Professional Reverse Mortgage FAQs. Reverse Mortgage Alabama
How can advisers help prepare a client for an unexpected early retirement? Call any time and Ill be happy to put together something for you and your clients. Many people have asked me to come meet with thier advisor and then we did proceed. It helps when thier portfolio is dropping and they want to sell. Call Reverse Mortgage Alabama in Birmingham or Huntsville at 205.908.2993 or 256.677.9767.
Sarah Wotherspoon, CFP and a principal of San Rafael, Calif.-based firm Private Ocean, had a client in her early 60s who was offered early retirement in 2014.
“We plugged her severance/retirement package into her financial model and concluded that she could retire at that time, which is what she ultimately chose to do,” Wotherspoon says.
If retiring early isn’t financially do-able, Wotherspoon often advises clients to find other kinds of work, including consulting.
She also revisits clients’ financial models to determine what other financial adjustments they can make, such as spending less or downsizing their home, to be on a sustainable path. Read Story
Kiplinger's Retirement Report. Options Still Available for Couples to Boost Social Security Benefits By Rachel L. Sheedy
Even as some popular strategies phase out, coordinating claims remains a critical move to maximize payouts.
There's a new world order when it comes to claiming Social Security benefits. In late 2015, Congress axed two popular strategies that helped couples maximize benefits. But all's not lost. It's just time to turn to Plan B.
Married couples can still make the most of basic Social Security benefits, especially by coordinating the timing of their claims. read story
The common perception is that financial planning for retirement is about creating investment strategies and maximizing returns. To be sure this is a big part of it, but if your planner only focuses on your portfolio they are short changing you regarding a variety of essential services you are likely to need. Here's a list of assistance that you should expect from a retirement planner. read story
Forbes Personal Finance A Look Back at 2015: The 5 Most Important Retirement Planning Changes for ‘16
Retirement planning can be extremely challenging as individuals are tasked with planning for an uncertain time period. If that were not difficult enough, in many ways retirement planning is like trying to shoot a moving target in the wind. Read Story
When a Reverse Mortgage Is a Good Idea for Retirement Income TIME MONEY
Q: My wife and I are both 54, and we would like to do a reverse mortgage when we’re 62 to help fund our retirement. We do not have any children and there isn’t anyone to leave our home to upon our death. We will both be retired next year and my wife has a pension. Read Story
New View Advisors.Reverse Mortgage Draw Index: Introducing Our Annual Adjustable Index
New View Advisors is pleased to release the second installment of its Reverse Mortgage Draw Index, including the first release of our Annual Adjustable Draw Index. Read Story
Promise of Reverse Mortgages and the Peril of Target-Date Funds. Robert Merton. Merton is a professor of economics at M.I.T. and was awarded the Nobel Prize in economics in 1997 for his contributions to the Black-Scholes option-pricing model. Read More
Do reverse mortgages help out? By Scott Burns Follow @AssetBuilder
Imagine that you are about to retire. Everything looks OK, but just OK. You own a very nice house, your health is good, you have no debts, you’re about to get Social Security benefits, and you have some savings. Sadly, you won’t have all the income you wanted, mostly because the last 15 years haven’t been kind to your savings. Read Story
According to the Employee Benefit Research Institute (EBRI), Americans are vastly unprepared for retirement to the tune of roughly $4.13 trillion. EBRI projects that the retirement savings shortfall would be much worse if Social Security benefits are reduced or fully eliminated. Read Story
4 ways to tap your home for money in retirement
-Social Security benefits may not be enough for a comfortable retirement, so many are using the equity in their homes for an income boost. CNBC.com Quarterly Investment Guide Read MoreMany Americans hold an emotionally driven view of their homes: They think the piles of particleboard and glass are castles. And they think they will grab the brass ring of American life once they pay off their mortgage. Read More
Helping a client decide where to live is a critical part of retirement planning. Investment News.
Discussions may need to include clients' family members or physicians, and funding for preferred choices can be dicey. Lauren Locker's widowed client initially vowed she would never leave her home of 30 years. Eight years later, at age 77, she said she was ready to move to a continuing-care community that would provide her with the health care services she would increasingly need as she got older. Read more
Morning star- Ecology of Money-Is the 'Fourth Leg' of Your Retirement Stool Wobbly?
Investors can no longer rely on home-equity growth as part of their retirement plans, writes contributor John Wasik. Read Story
FINRA (Financial Planning organization for the purpose of protecting investors) Debunks Reverse Mortgage Misconceptions Potential borrowers should know all of the facts before getting a reverse mortgage, and a recent podcast from the Financial Industry Regulatory Authority (FINRA) clears up some common misconceptions associated with the product. Read all of the story
New York Times SIX Strategies to Extend Savings Without Working Longer Read More
The Stress of Repaying $265 Billion in HELOCs. A large portion of home equity lines of credit (HELOCs) originated between 2005 and 2008 and representing $265 billion are outstanding and nearing the repayment phase. But consumers coming to the end of draw on these loans are more likely to go delinquent, not just on HELOCs, but also on other types of debt, according to new research. Read story.
Medicare, reverse mortgages and the complexities of retirement planning Katy Votava
There is a critical nexus between financial advising, tax planning and health care planning that is more and more important in todays world. Read More
My column last month about how reverse mortgages may help stave off Medicare surcharges ignited a few sparks and even more questions. One of the most persistent misunderstandings surrounding reverse mortgages is fear. As one adviser put it, how do we “deal with the fear that the reverse mortgage companies are going to take advantage of the homeowner?” This apprehension is understandable given some of the history in this market space.
Shocking Article I was reading today July 22, 2015 put out by the US Office of the Assistant Secerary for Planning and Evaluation on long term care cost predictions. Read More
The Boomer Effect: How Will So Many Seniors Get Long-Term Care? by Phil Walker – According to Pew Research, more than 10,000 baby boomers are turning age 65 each day in the United States — and this trend related to the largest generation of seniors in history will continue on for the next 15 years. To frame the scope of this social issue a bit further, consider these additional startling facts: Read More
Home Is Key to Aging-In-Place Strategy By Cassandra Dowell-As America’s aging population continues to grow, so too does the need for options to help seniors remain in their homes.“There’s a real push for people not to be in nursing homes unless they absolutely have to be,” said Robyn Golden, director of health and aging at Rush University Medical Center, during the National Healthcare Innovation Summit June 17 in Chicago. “People don’t want to live in institutions.” Read More
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